Insperity, Inc. (NSP - Free Report) yesterday announced its partnership with Mylo, a digital one-stop insurance shop launched by Lockton in 2015. Lockton is one of the world's largest privately held independent insurance brokers.
The partnership involves utilization of Mylo's insurance solutions for business, group health, home, auto and individual health by Insperity's Workforce Acceleration. Insperity Insurance Services, LLC, inked the agreement with Mylo.
Insperity’s Workforce Administration was rebranded as Workforce Acceleration by its Business Performance Advisor in the second quarter of 2018. Insperity Workforce Acceleration is a comprehensive traditional payroll and human capital management services provider for customers who do not opt for the company’s Professional Employment Organization (PEO) HR Outsourcing solutions.
Business performance services such as payroll, time and attendance, HR administration, employee onboarding, performance management and brokered benefits management can be accessed through this single solution. This results in streamlined workflow, which increases productivity and thus helps in driving the company’s bottom line.
With Mylo’s expert insurance solutions, Insperity is optimistic about reaching out to a wider customer base, especially business owners, through its growing Workforce Acceleration solution. In the second quarter, Workforce Acceleration recorded 38% revenue growth at a 61% higher price point.
So far this year, shares of Insperity have gained 98.8%, significantly outperforming the 16.3% rise of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Currently, Insperity carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other top-ranked stocks in the broader Business Services sector include Heidrick & Struggles International (HSII - Free Report) , BG Staffing (BGSF - Free Report) and Genpact (G - Free Report) . While Heidrick & Struggles sports a Zacks Rank #1, BG Staffing and Genpact carry a Zacks Rank #2.
The long-term expected earnings per share growth rate for Heidrick & Struggles, BG Staffing and Genpact is 13.5%, 20% and 10%, respectively.
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